Frequently Asked Questions

Saving Planning

Participation Banks are organizations operating in the financial industry, financing real economy and offering banking services. Participation Banks use funds they collect from savers in projects within the principles of financing without interest (fund provision to consumers and businesses) and they share profit and loss again with depositors. In collected funds, no fixed revenue is guaranteed to savers in accordance with principles of Interest Free Banking.

Participation accounts are opened for minimum monthly basis, such as for 1 month, 3 months, 6 months, 1 year and over 1 year. Also, participation account can be opened for the requested term with flexible maturity days.

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Vehicle Planning

Fund-provision methods are consumer financing, business finance, financial leasing, profit and loss sharing. Participation banks sell the goods in cash by installments by not giving cash credit, which is different from conventional banks.

Financing method for Participation Banks is based on purchasing product in advance and selling it to the customer for deferred payments. For this reason, financing of product purchase and sales of real economic operations is considered. The profit that participation banks will receive from the product sale is determined at first, and when and how much the borrower will pay installment are determined in the same way, from the beginning. No change is made to the applied profit rates until the end of the maturity period and receivables are not requested before the maturity date as in the standard banks.

When determining profit rates to be applied in projects, the cost of the fund that participation banks have, profit margin of the work done or the product in the market, inflation rate, cost of the alternative financing methods, and economic expectations are taken into consideration. As one of the players of real economy, participation banks cannot determine profit rates over or below the rates that arise according to supply and demand in the market.

There is advance payment obligation of 30% up to TRY 50,000 and 50% over TRY 50,000 by calculating over sales value for new cars and car insurance value for second hand cars according to the regulations of Banking Regulation and Supervision Agency (BRSA) on purchases of house. For example, there is advance payment obligation of 30% equal to TRY 15,000 for the first TRY 50,000 and 50% equal to TRY 25,000 for the second TRY 50,000 of a vehicle which has a car insurance value of TRY 100,000. There is an advance payment of TRY 40,000 overall in this example.

There is advance payment obligation for 25% of the appraisement value on home financing, according to the regulations of the BRSA. There is also advance payment obligation for 50% of the appraisement value on purchases of land and work place.

Education Planning

You can do installment for all national and international transactions in amounts of TRY 50 and above. Installments cannot be done for transactions in cash, or similar to cash made with a credit card. For installments, what is purchased must be bought goods (except gold, silver) or services. Therefore, installments cannot be done for jewelry, cell phone purchases, supermarket and food expenditures, fuel, foreign exchange transactions, cellphone credit transactions, tax payments, insurance transactions, invoice payments and subscription transactions.

No, the determined installment number remains the same until it is changed again. When the installment number is determined once, any transaction made above the lower limit will be installed in the determined installment number automatically. If you change the installment number, from the moment you make the change, installment are made according in the recent installment number.

Travel Planning

If you have determined the installment number of your SALE PLUS Credit Card, you can do an installment for all transactions in the amount of TRY 50 and above (except food, fuel, cellphone credit, taxes, bills, cigarettes, insurance payments, grants, subscription payments and jewelry stores) with SALE PLUS.

You can change your number of installments at any time you want. You can change your number of installments as much as you wish in a day or without any time limit. For transactions you will make in the amount of TRY 50 or above as from the moment you have changed your number of installments will be done installment with the recent installment number you have determined automatically.

If you type Sale (space) Transaction Amount (space) Number of Installment (Example: Sale 200 5) via SMS and send to 2848, your monthly payment and total payment amounts will be sent to you. Also you can make calculation by using installment page as well.